Kraft Heinz Picks New CEO as Sales Slump in the Face of Higher Prices
August 15, 2023
Kraft Heinz has appointed Carlos Abrams-Rivera, the company’s North American president, as its new CEO effective on January 1, 2024, succeeding Miguel Patricio. Patricio took over as CEO in 2019 amidst slumping sales, brand write-downs, and investor scrutiny. Despite efforts to revive iconic brands and expand the away-from-home business, the company has faced falling demand due to higher prices and increased competition.
Recent News
Peloton CEO Steps Down and Layoffs Begin
Peloton, the popular fitness technology company, has announced significant changes in its leadership and organizational structure.
California Restaurants Must Start Eliminating Special Surcharges
Starting July 1, California is changing the game for restaurant bills.
T-Mobile Now Owns Ryan Reynolds-Backed Mint Mobile
The deal is worth upwards of $1.35 billion.
Chipotle Is Giving Away Over $1 Million in Burritos to Healthcare Workers
In acknowledgment of the tireless contributions of healthcare workers, Chipotle Mexican Grill has announced a notable gesture of appreciation: the distribution of 100,000 free burrito e-cards.